Hi everyone,
Is there a website that lists rate changes announced by banks and other lenders?
I specifically would like to find Macquarie bank rates. Their website doesn't list rates any more.
Emails take days to get back and calling them seems to take that long too!Thanks,
SueGive them a call. The problem with Macquarie is that the rates changed a few times and your rate will depend on when you took out the loan and how large it was. I know it is hard to keep up with them – best to bite the bullet and leave maybe.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Agree with Terry.
Give them a call for a rate update as they arent the quickest in making announcements over their reductions but the first to tell you the rate has gone up.
Sometimes depending on how long you have had the loan and the type of loan it is it could be the time to cut ties with Mac B.
Richard Taylor | Australia's leading private lender
Thanks for the replies.
I have an LOC and a separate IO basic loan with them.
These loans worked well for us in the good old days ie. About 12 months ago!
As you'll know, they upped their interest rate what seemed like every month.
Apparently I have a 1.5% discount on my rate, feel sorry for those that don't.
Have looked into a NAB Choice package, (Have a base variable IO loan with them now), seems not a bad option.
Just have to get hubby to understand that if I continue to pay the same amount that I'm paying in interest now on the new loan, I'll pay back the hefty exit fees within a year!
I might have to put together a presentation…
Thanks,
SueI noticed recently that banks took a few weeks to lower their home loan interest rates after RBA announced interest rate cut (but it didn't take them long to lower interest rates they give on various savings and term deposit accounts). Is this something that they do to "delay" the rate reduction so they can bank in additional profits? Doesn't this practice get audited by the a Government body like the Fair Trading, etc? I haven't seen any news articles talking about this very practice, it seems banks are getting away with this….quietly.
Yes, probably a delaying tactic to make more profits. They will always claim increasing costs as a reason not to pass on the cuts in full
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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